This is a common issue for lots of people in business, not just for coaches.
If you’re truly passionate about what you do – that passion is what you’re driven by. And the money will come later. This is what I call working holistically.
Starting off, charging a lower than usual rate to get your business off the ground is normal. You haven’t built up your client base or gained experience yet.
So an entry-level price for an entrepreneur starting out is something people often do. But when you have launched and started to build up that client base, that can start to shift.
You’re no longer at an ‘entry level’ stage. You’ve now developed your business to a point where you are experienced and valued. So you should charge accordingly.
Have you increased your price as your value has increased?
Where you’re providing amply and fruitfully to your client base, but your business isn’t providing the same back to you, it can create an energy imbalance. This can risk you feeling dissatisfied or frustrated and questioning what you do.
So…how do you figure out how to charge what you’re worth?
1. Know Your Value
This can often be the crux of the problem. Do you actually know what your worth is?
Make time to sit down and position yourself amongst your competitors. Are you offering more than they are? Do you have more experience?
What are other people offering that you aren’t?
Ask for feedback from your clients – and check in with your mentor to get their advice, too (hint – this is where I can help you).
Take some time, a few weeks perhaps, to reach out to people and look at the work you’ve been doing. Meditate on it. Reflect on it. Journal.
Knowing your value is key to knowing how much you should charge. So be sure to come to an informed and honest place.
Know your worth. This goes for all areas of life, too!
2. Be Selective
Don’t just offer your services to anyone and everyone. If you’re ready to open space for anyone that shoots you a DM – that’s doesn’t give out a highly sought-after vibe. And if you’re spreading yourself too thin, after a while, you won’t be highly sought after, anyway.
Make sure the people you take on to coach are really going to benefit from your services.
Select the people you know who you truly can help. Those who will challenge you positively as a coach, and are looking to be challenged themselves in order to grow.
Because coaching is so holistic, it can be easy sometimes to want to help everyone. But if we want to help everyone, it’s not possible. So as a result, we can end up helping no one.
Think about who specifically you want to bring into your circle. And put that call out there. Put the content and energy out that you want to receive, and it will come back to you.
There might even be a specific group of people you want to reach out to that you know you can help.
If you can hone it down, do. That doesn’t mean other people won’t approach you, or you can’t work with other people. You can.
But if you have a mission, make it clear.
3. Practice What You Preach
If you’re a coach working with people on how to improve their lives, make sure you live by the ideas it is you are selling.
For example, if you’re a coach working with people on how to eat well, and you’re ordering unhealthy meals all week – that’s not going to sit right. It’s going to show up in how you meet people, leaving a discomfort and dishonesty in the relationship.
This imbalance is something your clients will pick up on, and put them off. It’s important to embody what you’re selling. It’s hard to have integrity when you’re not showing up for yourself, let alone showing up for your clients.
The idea behind being a coach is that you’ve already gained that something that this person feels they are lacking. So as a result – they turn to you. And this essentially is your business model.
You’re ahead of them in this particular path. So when you’re a coach, you’re looking back, reaching out a hand and showing them the way.
So make sure you’ve built up a solid base in what it is you’re selling. Live by the same pillars of integrity you’re selling.
And be honest.
Are there any tips I’ve missed in how coaches charge what they’re worth? If I have, shoot me a DM and we can get chatting. And if you’re interested in holistic business coaching from me personally, don’t hesitate to send me a mail.